Overview
Marcus & Millichap is pleased to present 1285–1295 Ammons Street, a 10-unit multifamily offering located in the heart of Lakewood, Colorado. This well-maintained, two-building property presents a rare opportunity to acquire a stabilized asset with upside potential in a highly desirable submarket with convenient access to Denver’s major employment centers.
The property is comprised of spacious one-, two-, and three-bedroom units. Recent capital improvements, along with consistent pride of ownership, have resulted in a well-kept asset with limited near-term maintenance requirements. Strong in-place rents offer immediate cash flow, while further upside remains through interior upgrades or strategic management—allowing investors to capitalize on both stable income and long-term appreciation.
Situated just minutes from Colfax Avenue, Belmar Shopping District, and light rail access, the location offers residents convenient connectivity to Downtown Denver, the Denver Tech Center, and major highways. This offering presents an ideal blend of stable income, desirable location, and future value growth potential in one of the metro area's most accessible and livable submarkets.
Investment Highlights
High Performing Submarket with Low Supply
While Denver's significant inventory expansion in recent years led to higher vacancies metro-wide, the Lakewood/West Denver submarket has been less impacted due to inventory expansion of just 1.4% which is 66% percent less than the metro-wide average. Rent growth in the coming years is likely to be stronger in submarkets with tighter vacancy rates and less future competition.
Low Vacancy Rates
Stabilized vacancy rates in Lakewood are significantly lower than the Denver MSA average. Over the last five years, Lakewood has achieved a trailing average vacancy rate of 5.4%. In 2024, vacancy rates in this submarket remained over 100 basis points lower than the metro wide average. Lakewood maintains the third lowest vacancy rates in the Denver MSA at just 7.8%.
An Affordable Option with Excellent Proximity to Employment
Lakewood is home to a diverse range of industries and businesses including tech, government, finance, and aerospace. Additionally, Lakewood's proximity to Downtown Denver coupled with more affordable housing options—average market rents being more than $100 lower than the Denver MSA average—creates a significant demand driver for cost sensitive renters.
Popular Retail, Dining, Recreation & Other Entertainment
Lakewood hosts numerous shopping centers, restaurants, and entertainment options and offers residents direct access to numerous parks, trails, and the Rocky Mountains.
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